WASHINGTON – The Internal Revenue Service announced today that the third round of Economic Impact Payments will begin reaching Americans over the next week. Following approval of the American Rescue Plan Act, the first batch of payments will be sent by direct deposit, which some recipients will start receiving as early as this weekend, and […]
Employers can withhold, make payments of deferred Social Security taxes from 2020 The Internal Revenue Service today released Notice 2021-11 addressing how employers who elected to defer certain employees’ taxes can withhold and pay the deferred taxes throughout 2021 instead of just the first four months of the year. In response to a presidential memorandum […]
Our 2020 year end newsletter is here! Below are a few of the great articles from our year end newsletter. We hope you enjoy the great tax, tips and news! Social Security Benefits are increasing for 2021. Americans who collect Social Security will receive a 1.3% increase in their monthly payouts in 2021. The extra […]
Social Security Benefits are increasing for 2021. Americans who collect Social Security will receive a 1.3% increase in their monthly payouts in 2021. The extra benefits kick in on Jan. 1. Annual increases in Social Security are determined every year based on changes in a component of the consumer price index. Social Security recipients got […]
The Social Security Administration announced a 1.3 percent boost to monthly Social Security and Supplemental Security Income (SSI) benefits for 2021. The increase is based on the rise in the Consumer Price Index over the past 12 months ending in September 2020. For those contributing to Social Security through wages, the potential maximum income subject […]
